Don’t lose your ANCHOR property tax break in N.J. if you changed your bank account or moved
The ANCHOR property tax program deadline has been extended twice.
You now have until Feb. 28 to complete your application, and payments are scheduled to go out in late spring, the Treasury Department said.
That’s a long time to wait for residents who completed their applications in October when they were first distributed.
The timeframe could cause unexpected problems for some. What happens if you changed your bank account, and your direct deposit information, since you sent in the application? What if you’ve moved since then?
It matters because the ANCHOR payments will be made in the form of a direct deposit or check, not as credits to property tax bills.
“The Division of Taxation is not responsible for a lost benefit if you enter the wrong account information for a direct deposit,” the agency says on its website.
That means you need to make sure the agency has your correct information.
If you need to update your direct deposit information, for security reasons, taxpayers must fax or email in a request (no form is needed) providing their name, Social Security number, and both the incorrect and correct banking information, Treasury spokeswoman Melinda Caliendo said. You also have to send a copy of their government-issued ID, she said.
You can fax the request to is (609) 633-6444 or email it to NJ.ANCHOR@treas.nj.gov.
If submitting by email, Treasury says you should only include the last four digits of your Social Security number.
To change your address, first complete Taxation’s change of address form.
You can fax it to (609) 292-4276 or mail it to the N.J. Division of Taxation, PO Box 440, Trenton, NJ 08646-0440.
Another option is to upload the form via the agency’s website.
If you’ve filed for the ANCHOR benefit on behalf of an estate, be sure to keep the estate bank account open long enough to receive the funds.
Please subscribe now and support the local journalism YOU rely on and trust.
Karin Price Mueller may be reached at KPriceMueller@NJAdvanceMedia.com. Follow her on Twitter at @KPMueller.
Leave a Reply